Introduction to SSARS Engagements
Understanding SSARS
Statements on Standards for Accounting and Review Services (SSARS) establish professional standards for preparation, compilation, and review engagements performed by CPAs on nonissuers. These services provide varying levels of involvement with financial statements but do not constitute an audit.
- Applies to nonpublic (nonissuer) entities.
- Issued by the AICPA Accounting and Review Services Committee (ARSC).
- Includes preparation, compilation, and review engagements.
- Provides lower assurance than an audit.
Note
SSARS engagements apply only to nonissuers. Public company financial statement engagements are generally subject to PCAOB standards.
Summary
SSARS governs accounting and review services for nonpublic entities, offering different levels of service depending on user needs.